San Diego, Nov. 13, 2006 – Del Mar Database, a unit of Fiserv Inc. (Nasdaq: FISV), announced today that 2ci Direct has selected and implemented DataTrac® as its back-office mortgage banking technology solution. DataTrac is a lending automation solution that empowers small to medium-size lenders to increase production, control costs, improve efficiency, reduce risk and maximize profitability. 2ci Direct is a boutique, wholesale, sub-prime mortgage lender based in Westlake Village, Calif.
2ci Direct selected DataTrac because of its proven track record, comprehensive functionality and management reporting capabilities. Additionally, the solution provides a technological competitive advantage as well as efficiencies on the operational side in a cost-effective manner that matches the business needs of a start-up.
“As a growing shop, we needed a comprehensive solution that would handle our changing needs,” said John Wise, president of 2ci Direct. “We selected DataTrac because it enables us to run with them out of the box without having to install a front-end LOS, resulting in cost savings for our organization. In addition to Del Mar Database’s DataTrac, we have also implemented their WebTrac and DocumentTrac solutions. 2ci Direct now has a Web presence, integrated data, and a paperless environment, which is almost unheard of for start-up companies.”
DocumentTrac™ is an integrated solution for imaging, archiving, retrieving and distributing all documents associated with a loan file. One of the key product features automates the stacking and quality control of documents for delivery to investors, whether electronic or by paper. This module tightly integrates with DataTrac.
WebTrac® is an integrated solution that empowers a lender’s originators, either brokers or retail loan officers, with real-time details of the approval and funding processes, such as outstanding conditions, lock requests and fee reviews for documents. Not only does WebTrac help a lender grow their business by providing unprecedented customer support, it also streamlines their back-office workflow by eliminating inbound, task interruptive phone calls.
“Del Mar Database remains committed to making the technology solutions of larger institutions available to small and medium-size lenders. This includes lenders that range from brokers just turning bankers to 20 of the industry’s top 200 lenders,” said Rob Katz, executive vice president of Del Mar Database. “2ci Direct was in need of a solution that could be quickly and successfully implemented at a price that would ensure a very fast return on their investment.” “Our solutions are helping 2ci Direct both compete with the industry’s largest lenders and also generate greater profits per loan.”
About 2ci Direct
2ci Direct is a privately owned boutique mortgage firm specializing in wholesale, sub-prime mortgage loans. The company was founded in 2005 and currently does business with mortgage brokers located throughout Southern California. For more information, visit www.2ciDirect.com.
About Del Mar Database
San Diego-based Del Mar Database, a wholly owned subsidiary of Fiserv Inc. (Nasdaq: FISV), introduces new technologies to lenders of all sizes that leverage their existing tools to improve efficiencies, increase profitability and increase pipeline capacity. The company's proprietary software solution, DataTrac, enables lenders to reduce costs, generate greater profits per loan, minimize errors using business intelligence, and fund more loans with fewer people. Founded in 1991, the company's customers include mortgage lenders, brokers becoming lenders, credit unions, and community banks. For more information, visit www.delmardb.com.
About Fiserv Inc.
Fiserv Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
